Indiana PRS Invests in Wellington Core Bond Plus; Commits $300M to Alts

According to meeting materials from the February 16th board meeting, the Indiana Public Retirement System has approved four alternative investments totalling approximately $300 million, in addition to hiring Wellington for a Core Bond Plus mandate.

In private equity, $120 million was allocated to MBK Partners VI.

In real estate, $25 million was allocated to Longpoint Fund III Co-Investment. An additional €50 million was allocated to ICG Real Estate Co-invest.

Also in real estate, $100 million was allocated to Related Realty Fund IV.

Lastly, $138 million was allocated to Wellington Core Bond Plus. This is as a result of the fixed income RFP where Wellington will comprise 35% of the Defined Contribution’s Fixed Income Fund and fixed income sleeve of the Target Date Funds.

As of December 31, 2023, the $48.8 billion Pension Fund allocates 16.2% to private markets which falls within the target allocation range. The Fund also allocates 13.7% to fixed income, falling between the target allocation range.

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